Cabinet extends tax disputes law for 2 years

CAIRO – 1 November 2017: The Cabinet approved Wednesday to extend the implementation of a law on settling tax disputes for two more years, Minister of Finance Amr el-Garhy said.

Speaking at a press conference Wednesday, Garhy said the law is specialized in income tax, real estate tax and value added tax (VAT).

In August 2016, Egypt’s parliament approved a new law for settling tax disputes, targeting to resolve more than 6,000 tax disputes in courts worth more than LE 47 billion.

Under that law, the government issued regulations to accelerate often lengthy tax disputes by resolving them through a committee of independent experts, instead of courts.

Egypt wants to achieve LE 603 billion in tax revenues in fiscal year 2017/2018, which represent around 40 percent of the state’s total revenues. Non-tax revenues in the budget are expected to stand at LE 229.5 billion.